Term loan | While banks and credit unions typically require a score of 670 or above, online lenders may only require a score of 500 |
Line of credit | Similar to term loans, you’ll need 670 or higher when applying at a bank but may only need a score of 580 or higher when applying with an online lender |
Commercial real estate loans | You’ll need a strong credit score — preferably 680 or higher — to secure a commercial real estate loan |
Equipment loan | Since equipment loans are secured by the equipment you purchase, you could get approved with a minimum credit score of 600 |
Merchant cash advance | This type of bad credit loan is accessible to credit-challenged borrowers with a credit score in the mid-500s |
SBA loan | Lenders offering SBA loans require credit scores between 620 and 680 |
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